ADIB and CBUAE Pioneer Open Finance as ADIB Secures UAE’s First TPP License Under AlTareq Initiative
Abu Dhabi, UAE – April 17, 2026
Abu Dhabi Islamic Bank (ADIB) announced it has become the first UAE bank licensed as a Third-Party Provider (TPP) for Open Finance under the Central Bank of the UAE’s (CBUAE) AlTareq initiative. The license enables secure aggregation of customer-permissioned data across banks for consolidated views via ADIB’s channels, advancing CBUAE’s 2023-2026 strategy for a connected financial ecosystem.
Announcement Specifics
ADIB’s TPP license allows the bank to operate dually as an account-holding institution and Open Finance provider. Customers explicitly consent to data sharing, adhering to CBUAE’s security and authentication standards. Transaction volumes and financial terms remain undisclosed. The AlTareq framework facilitates regulated data sharing between banks and third parties, evolving traditional open banking into a consent-driven open finance model. ADIB leads as the first Islamic bank implementing the framework following pilot programs.
Stakeholder Perspective
“Becoming the first bank licensed as a Third-Party Provider under the UAE’s AlTareq Open Finance initiative is a strategic step in building the bank of the future. It enables us to deliver more connected, faster and more personalised solutions for our customers, while maintaining the highest standards of security and regulatory compliance.”
— Mohamed Abdelbary, CEO at Abu Dhabi Islamic Bank
Why it matters: This positions ADIB to enhance decision-making capabilities and personalization within Islamic banking services through secure data aggregation.
Industry Context
The UAE’s AlTareq initiative represents a regulatory evolution from open banking to comprehensive open finance, emphasizing consent-driven data access and transparency. CBUAE regulates this framework to boost innovation while maintaining security standards across the financial sector. ADIB’s milestone strengthens the UAE’s position as a fintech hub within MENA, potentially accelerating adoption across GCC markets. The development fosters competition and customer-centric services amid regional digital transformation efforts, with UAE’s regulatory agility outpacing neighboring jurisdictions.
Conclusion
ADIB plans to expand Open Finance services by introducing new digital use cases designed to enhance transparency and streamline customer journeys across financial institutions. The bank’s TPP license under AlTareq establishes a foundation for the next phase of consent-based financial data innovation in the region.
Sources: FinTech News, ADIB, Central Bank of the UAE
